Working with New York’s New Combined Reporting Rules

Peter Faber assessed New York’s new draft combined tax reporting rules. While commending the state revenue department for working with interested parties on effective final regulations, Mr. Faber observed: “As might be expected in any complex area of the law, many interpretative problems remain, and taxpayers, and for that matter department auditors, will have to proceed in an uncertain world, although the uncertainties may be different from those that they encountered a few years ago.”